2013-02-01
2013-02-09
x CNBC

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CNBC 24
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English 24

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so we're joined by steve liesman. we're happy to have him here. our top story this morning, the market. we have assembled a trio of wall street's most respected voices to join us for the next hour. we have a lot to talk about this morning. plus, there is that issue of the lights going out at the super dole last night. officials say an abnormality in the power system triggered an automatic shutdown forcing backup systems to kick in. but they weren't sure what caused that initial problem. 34 minutes that the lights were out. brian shactman will join us in just a minute for the full story. this was a super bowl to remember for a lot of reasons, not the least of which the lights going out like that. let's get out to the headlines. the dow and the s&p 500 closing friday at their highest level since 2007. the major averages posting a fifth straight week of gains. u.s. equity futures this morning, you can see, are lighter, down by about 33 points for those dow futures. s&p futures are off by about 4 1/2. but, again, the dow above 14,000 for the first time since october 2007 on fri

. ike becky quick along with andrew ross sorkin. joe kernen is off today so we are again joined by steve liesman. also at the table with us this morning, our guest host is andy surel. andrew just talked about the markets. stocks ending at session lows yesterday. in fact, all ten s&p sectors closed lower. yet the bulls betting this is nothing more than a bull pac. but we will have a number of powerful investors for their thoughts throughout yao the morning. jim o'neill will join us in just a few minutes. then in the next half hour, the man charged with making sdigs for how blackrock invests more than $1 trillion, the firm's chief investment strategist, russ koesterich. nouriel roubini will be joining us and we're going to ask him for his current view of the world. in the following hour, buy and hold is the name of his game, barons capital ceo ron baron will be our special guess. he's been talking to us about how great of an opportunity stocks have been. we'll see if he's still feeling that optimistic now that stocks have reached 14,000 or close to it. >>> how majority leader eric cantor i

in pseudo, our own steve liesman and book brusca. then in the next hour, jeremy siegel is going to join us on set to make his bullish case for the numbers and then, nemo, the powerful storm taking aim at the east coast. forecaster res warning it could be among the worst ever, more than two feet of snow possible in boston. many cities are telling residents, don't travel if you don't have to. airlines are now warning the blizzard could cripple travel and hundreds of flights have already been canceled. we're going to check in one on friends at the weather channel. just a couple of minutes for their latest forecast. also in the news, the justice department in multiple states reportedly discussing suing moody's for defrauding investors. any move likely to make a similar rival against standard & poors is testing likely so this likely to be more than two years out. the goal is to get more battle on potentially hazard just flights, so these flights will only happens. now let's head across the country to joe and becky and see what they have coming up this morning. joe, how was your week on the cour

. becky quick is under the weather. hope you feel better. joe is off, steve leaseman here, as well. our guest this hour, yahoo! finance senior columnist steven kohey. a lot to discuss about the markets. stocks rallying to wipe out most of the previous session losses. check out the so-called ear gauge. the vix as we call it, tumbling below 14. then in the next hour, something a little different on "squawk box" this morning. we're going to be joined on set by three well-known names on wall street. blair ephron, roger altman. and honeywell chief david cody y. these guys? all three have been sitting in on regular conference calls with the white house. they're among the leaders the obama administration is turning to for advice on everything from the deficit to taxes to the broader economy. >>> then, after we talk to them, they're going to paint a picture for us, we're going to turn to two powerful investors for insight into what the conversation in washington means for the broader markets. cowen and company ceo jeff solomon will join us, and the bond king, bill gross. first, steve will bring

numbers. on the technical side is the managing partner at bell point. on the fundamental point it's steve cortes founder of veracruz and cnbc contributor. did i read this correctly, you shorted disney? >> listen, it's not easy to fight a stock that has it at an all-time high but this has gotten very frothy. as a disclaimer i have to admit that i took the disney cruise with my kids a few years ago. let me tell you something it was hell on the water. got the norovirus. i would rather have been on the endurance stuck in the ice than on that boat, but aside from that, i do have real world reasons outside of my own experience to fight disney one, a fundamental one and technical one even though i'm supposed to be the fundamental guy. the fundamental reason is falling wages. wage growth is tepid at best in this economy. b of a put a report out that this week with high gasoline prices and falling wages that's a toxic recipe going forward and the second reason, and when i look at apple versus disney, these two stocks until roughly thanksgiving traded very much in unison and we've seen a very we we

't get a line on it. steve in florida. steve? >> caller: hello? >> hi, steve, you're up. >> caller: okay. b-b-b-boo-yah. >> i'm liking that completely. >> caller: i got blackrock kelso. >> i don't know blackrock kelso. no, i don't know it. i've got to do homework on it. let's go to john in washington. john? >> caller: boo-yah to the all-seeing, all-knowing great jim cramer. >> well, thank you. >> caller: you're the best, baby. you're entertaining and informative just like you say. >> i sure try. >> caller: i want to give your eagles a kudos for picking that oregon coach. he's a winner. >> chip kelly, i like him. breaking that story with mort, what's up? go ahead. >> caller: dvax. >> we said it was a speck, it is coming back, it's now up a dollar from where it blew up. i want to stay long dvax. barbara in illinois, please, barbara? >> caller: yes, sir. >> go ahead, barb. >> caller: jim, i have a question about cognizant technology. >> oh, i like that. and i like it a lot, but you know what? i saw an opportunity today, bill mcdermott's s.a.p. he's co-ceo, down from 83.60 to 80. pull the tr

green of hightower and cnbc market analyst warren myers are answers right now. good to see you. steve over to you first, 30 seconds on the clock. what's your dollar trade tomorrow? >> we're watching the euro dollar. we think that's the most important thing. the equity markets the tail. we're being wagged around. all about central banks as jim was referring to you earlier on the show. we really think that right now the u.s. is the only central bank towards hinting at ending their quantitative easing so we think if the euro dollar breaks 133 we could see finally a selloff that holds in the u.s. >> thank you so much. mike, you're up, your case on why you think china is worth watching. >> with china's economic growth seemingly back on track and because the markets are closed all of next week for the newyear's holiday, we'll watch again tonight when they release their cpi data. this month it's expected around 2%. if they come in above expectations again, we'll watch very closely to see what the people's bank of china has to say about things like lending curves. obviously this is something that has the

other things that interceded. then chicago fed president charlie evans is going to sit down with steve liesman at around 8:30 eastern. but don't worry, you don't have to wait until then to hear some interesting voices on the central bank, because on set we're happy to say, stanford professor and former treasury official himself john taylor is here here discuss. let's go to scott. he's got the morning headlines. >> thank you. what might be considered a surprising partnership, yahoo! and google have signed a nonexclusive marketing agreement. retailers in the northeast stocking up on storm goods ahead of an anticipated weekend storm. home depot, target, lowe's among the companies telling cnbc they're taking steps to deal with anticipated increased demand for certain goods that people anticipate they'll be stranded at home because of weather, and it's supposed to be bad in the northeast. >>> standard & poor's has hired a top white collar defense attorney to help fit a $5 billion government lawsuit over ratings. san francisco based john keeker has represented lance armstrong to enron's andr

trust respectively, i bet they deliver and deliver again. these are huge winners because of steve tanger and don wood, the ceos. they deserve to be winners. wednesday we get results from mine safety aplans. i've got two words for you, merger and mania, that's what we think will swirl around mine safety this year, giving it 3m, honeywell and dupont all want to get bigger insafety. however, how are the earnings? isn't that what really matters? we never recommend stocks on takeover basis unless they have good fundamentals. europe's been crushing these guys. let's listen and find out how are the near-term prospects. the stock, one of our breaking up is easy to do from kraft, it's been a rocket ship. we told subscribers take something off the table. mondelez, i think you should do the same we did. then we hear from whole foods. you know how much i like this. but it's been stalled out for some time. may it at last be able to break out of the range but up or down? we think up because of the power of the whole friends of wholefoods. they are building many more stores and those stores, people lov

post steve jobs is one thing. but i think that they are doing fine. they did miss a bunch of quarters. where einhorn's really right is they are anti-shareholder friendly. i mean, if the ultimate thing that comes out on the proxy is we are against something that was proposed that is reasonable, shareholder friendly, that what does that say? what does the statement say? why isn't the dividend bigger? why isn't the buy back bigger? most companies would not tolerate the treasury stance of apple. they would just say it's not good enough. and i think einhorn's right on that. solution, all i can tell you is when you discuss with a company an idea and then you see a proxy, the proxy that your idea is wrong, given the fact that they have used cash, i don't know, intellectually, apple's position can't be defended. >> trying to head him off at the pass. >> right. right. >> doesn't it say that whatever their reason is for saving this money, they haven't communicated it effectively? >> thank you. >> right? >> yes. there must be a reason. >> but say it. say, okay, look, we are looking at developing

host who has been back with us, jeremy siegel, the bull. steve liesman, also thank you for sitting in all week. that's been terrific. becky and joe, it's been great. good luck over the weekend. we hope you get back here and it all works out. say hello to nemo and the weather. we're going to see you -- >> be careful with all that snow. >> absolutely. anyway, make sure you join us monday. "squawk on the street" begins right now. >>> good friday morning. welcome to "squawk on the street." i'm melissa lee. we're live from the new york stock exchange. let's see how your friday session is setting up on the u.s. futures. it looks like we'll have a positive session with the s&p looking at 2 at the open, dow looking at 13. in europe, the eu summit continues. but the action really taking its cues from china this morning. we have green arrows across the board in europe. take a look at asia. strong eco data out of china in focus. much more on that in just a moment. the road map begins at the golden arches. not even the cheddar onion burgers could help mcdonald's. they missed estimates in every

's followed the dictum suggested by the late founder steve jobs. if you produce the best products which arguably apple has done, everything takes care of itself. that's something that's resonated throughout much of steve jobs' biography about walter isaacson. it's a bedrock principle of apple itself. i have to admit i have grasped about apple lately. incredibly low interest rates, that keeps it from earning a decent return for doing nothing at the moment as you used to be able to for so long. i have said that the cash itself has gone from being a positive at a time when so many companies have stretched balance sheets to a negative as it generates a small return. i have suggested they put some of the cash to work, buying the growth that many feel has been lost. perhaps buying twitter to be more moving aggressively into the social media space. or netflix for home entertainment. or even somewhat facetiously purchase amazon, with its itunes-like offers. all that said i never thought in a million years that somehow apple's become a bad actor because of its conservative ways of handling its b

'hara with phoenix partners group and on the fundamental side steve cortes with vercruysse. j.c., which about the charts, which indices or which sector would you prefer right now? >> well, bill, i like all equities right now, small, medium and large. a lot of people say equities have gone too far too fast and they are overbought. we remaybe in a rights wedge formation and until you break lower you have to be long. it does not pay to bet against this rally. it continues higher. what's better than the s&p? well, right now small caps are better than the s&p. small caps already broke out of a multi-year ascending triangle, and basically what that is, it's heavy, heavy resistance that was recently penetrated in the 850, 860 area for the russell 2000. strong resistance is a very strong asset to break through, and i don't want to stand in front of this bullet train. i think the momentum is positive and trends are positive and small caps will take us higher. >> steve? >> j.c. in, general the bigger guys one and i think the bigger guy will win in the bat of the index. i don't like the jpmorgan call fo

the january jobs report. moody's steve chist mark zandi, former council of economic advisers chairman austan goolsbee and jared bernstein. their predictions and reaction to the number in a special jobs friday hour of "squawk box" that you can only see here on cnbc. and don't forget you can find "squawk box" online and on mobile, too. follow us on twitter @squawkcnbc is the handle. like us on facebook if you want a little thumbs up, and you can of course visit us on our show page squawk.cnbc.com. and there's been a lot of new stuff that's been going off on these pages so check it out. >>> welcome back, everybody. let's chat with's guest host kelly king who is chairman and ceo of bb&t. we were talking about how businesses want to be optimistic, ceos want to be optimistic. what's holding them back? >> well, a continuing concern about all of the areas of uncertainty. it's interesting, ceos want to do business. they want to grow. they want to add employees. that's how we make money. that's how we reward our shareholders. and for almost five years now everybody's been holding back. you know, not m

. the unemployment rate climbing to 7.9%. steve liesman joins us with his take. he wasn't kidding. a busy morning. >> yeah, really. hopefully i'll earn my paycheck on a day like today, carl. as rick said, i think the important part was, most of it better than expectations. the construction number, that could help that negative one on gdp. we'll get to jobs in just a second. but also the ism pgoing well. total 157. private sector 166. unemployment ticking up. hours unchanged at 34.4. earnings up .2. the revisions, 127. i want to talk about that. i want to show you a chart here that takes a look at -- there's the bar chart. there's the old private sector fourth quarter average of 185. and now it's 225,000. but what was the fourth quarter? the fourth quarter was full of fiscal cliff concerns. so doug duncan, an economist at fannie mae, writing this morning, the payrolls in the fourth quarter is consistent with robust growth in business investment in the gdp report. we already saw that. suggesting that uncertainty over fiscal policy did not hurt businesses hiring and investing as feared. if it did hu

. with all due respect to you and steve law and karl rove, with all the greatest respect, i want to run a list. you had nothing to do with electing these brilliant tea party senators. i mean brilliant. pat tumey. >> we spent money on him. >> marco rubio. >> we spent money on him. >> rand paul. >> we spent money on paul. >> and mike lee. that's good. they won the primaries, did good and you won. why do you want to mess with the blim guys and take on the tea party? you will take on the club for growth, take on americans for prosperity. you are going to make one bloody mess inside the gop. that's what you're going to do. >> this whole line about a war going on against the tea party has nothing to do with us. we want to institute what william f. buckley calls his rule to elect the most conservative candidates in primaries capable of winning in generals. when it comes to supporting tea party candidates american crossroads and crossroads gps are bigger supporters than anyone. we spent $30 million helping conservative candidates like richard murdoch, todd akin before he said the crazy stuff in

, the creative scientist ed catmull, a visionary entrepreneur, steve jobs,

. >> you're still bullish? >> bullish as anything. >> doug, richard, thank you. steve, michelle, thank you. >> thank you. >> chicago tomorrow. >> we also have bob ruben tomorrow. "squawk on the street" begins right now. >>> good wednesday morning. welcome to "squawk on the street." i'm melissa lee, with carl quintanilla with jim cramer and david faber at the new york stock exchange. the day after the s&p and nasdaq posted their second best days of the year. we looking at a higher open, pretty much across the board. actually, they just turned. we're looking down open here, 59 points on the dow. down 7 on the s&p 500. take a look at the picture over in europe. the big waiting game is on with the ecb starting tomorrow. we're seeing red arrows on the board. most notably the euro hitting a one-week low against the u.s. dollar. in asia, china up eighth straight session. nikkei highest level since september of 2008. disney set to open at record highs. strength in media networks. word that it's planning films based on "star wars" characters. >>> zynga, revenues continue to fall and the social gami

that this is not steve jobs' apple anymore. that's for sure. >> stock up 2%. big move there on that move. scott, thanks very much. despite the comeback being staged this afternoon among the major averages, we're still on pace for the first week over week loss for those averages this year. josh lipton has more details on that. josh? >>. >> reporter: hey, bill. u.s. stocks on track to finish in the red today, so is this the correction we've been expecting? money managers have been warning of a pullback. even bulls think we could see some consolidation of recent gains. their concerns, one, bullish sentiment is still high at 42.8%, still above its historical average which could be a contrarian sell signal and you should take a look at the s&p 500 and the high shars, high field index. also spoke with jason lee of jpmorgan, he's actually watching high yield spreads. he said they widen around the equity selloff. since father 28th they have widened 30 basis point. lee is paying close attention but isn't worried yet. spreads widened at least 50 basis points. and if the major indices finish the market lower they

. because the ingenuity and entrepreneurship kind of slows down. >> steve jobs is turning over his glaif you actually put him in the same sentence as microsoft. >> i can't help it. that's what this remind me of. and i think there's some pretty smart people out there talking about this. >> larry, there's another part of the story. the fed is issuing perpetual money. and so i don't think it makes sense for apple to consider jumping into the business of creating new financial products. the fed is driving people into this financial bubble of products. we've got a boom in new york, a boom in washington, d.c. but it's not good for the country to have a company like apple that's supposed to make innovative technology products getting into the financial business. >> david, you've got $137 billion of cash, for heaven's sake. you got to come up with -- you got more money there, you can innovate, you can entrepreneur, you can have more iphones. you can have more ipads. you can create stuff that even i know how to use. but $137 billion of cash for heaven's sakes. i think mr. david einhorn has the story

on this post-super bowl wrap-up day. steve liesman, we'll see you tomorrow. join us tomorrow. "squawk on the street" starts right now. >>> good morning. welcome to "squawk on the street." i'm carl quintanilla, with melissa lee, jim cramer. david faber is off. signs of reemerging political turmoil, both in spain, and in italy making investors a little bit reluctant to press the button for the upside. it comes after the dow did top 14,000 on friday for the first time in more than five years. look at europe, that's where the story's going to be for most of the morning before we close at 11:30 eastern time. germany taking it down 1,100 points as well. asia got action as well as china. nonmanufacturing came in better than expected. clearly the story is going to be in europe for most of the morning. >> we've certainly seen a flight to safety take place this morning, as we've seen the bond yields, particularly the spanish 10-year bond yields blowing out overnight. we're seeing bids higher today. german bonds also higher. the 10-year yield in the united states, back below 2% at this point. >>

think that will occur. >> you know, todd, steve lewis at monument securities is basically asking today whether in europe, mario draghi is playing a confidence strike on everybody. and he can't actually come in to intervene in the markets in order to support the bond markets. do you bother watching european news anymore or is it dead to you? does it not matter to the european rally? >> yeah, you know, that's a great question, simon. and that's something i was -- we were thinking in the back of our minds, back late last year how europe is in a way disappeared from the headlines. it seems the past three, four years now, early in the first quarter, europe always comes back in the picture. it was something that was on our minds in terms of what -- >> so do you want -- >> the ball will drop. >> but do you watch -- >> if you think about it, i think there has been a disconnect between the u.s. equity markets and europe throughout the last 12 or 18 months. the u.s. market will respond to europe. do we watch it? yes, we do. i think there's some noise, if you will, from day to day. but overall, t

know, buying the company which maybe a couple of years ago steve ballmer might have thought about doing. i understand the strategy for microsoft. and i think they're doing it in a relatively low-risk way. >> is this just michael dell saving his reputation, last word? >> i think that's part of it. i think certainly, you know, there's been stories that he cares deeply about what happens in austin. dell's a big employer there. and certainly he wants to, you know, go back to the days where he was seen as one of the top thinkers and business leaders in the world. and as the company has fallen from those heights, so has his reputation. >> okay. editor-in-chief of yahoo! finance. great to have you again. we really appreciate your time. >> thank you. i vote for the iron. >> again -- austin, you know, can't understate the importance that he might see for his personal reputation. nevertheless, stick around. we'll have a break. >>> coming up, disney posts blockbuster earns. the company has big plans for "star wars." >>> welcome back to "worldwide exchange." i'm kelly evans. >> i'm ross westgate. >

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